RCC Awarded $210,000 To Launch Financial Coaching Program

ROCKLAND COUNTY, NY — Rockland Community College has been selected as one of three schools nationwide to receive $210,000 to develop and launch a financial coaching program to improve students’ financial health and increase their graduation rates.

The program from the National Council for Workforce Education, developed with Westchester Community College, is expanding nationally through a $2.5 million investment from JPMorgan Chase. SEE: WCC's Financial Coaching Forum Leads To $2.5M National Initiative

Many young adults lack the knowledge, skills and behavioral tools to manage the complexities of 21st-century money management and personal finance, officials said. Coaching can help overcome gender and racial equity wealth gaps and help "workforce education learners" overcome barriers to financial security, said Executive Director Darlene G. Miller of the NCWE.

"Financial coaching is about behavior change and empowering people to take charge of their future by connecting them to resources that drive academic, career and personal achievement," said Jeanique Druses, executive director of global philanthropy at JPMorgan Chase. "Rockland Community College is adept at serving students who face barriers to graduation and employment opportunities and this program will build on their ability to meet the needs of their students and help them achieve economic mobility."

RCC was chosen through a competitive process based on the school’s capacity for innovation, staff knowledge and commitment to student success. Fulton-Montgomery Community College in Johnstown, New York and Mott Community College in Flint, Michigan will also receive $210,000.

Four other colleges will be selected in 2023, so the program will affect more than 1,200 students around the country.

Using the financial coaching program launched by Westchester Community College in 2014, NCWE will provide Rockland Community College with individualized coaching and technical assistance; training, guidance, and support needed to hire staff; and assistance in building a successful, sustainable program.

The NCWE Team will assist Rockland Community College in developing a long-term business plan to embed financial wellness into their strategic and budget plans, to support the sustainability of the initiative.

Helping students to better understand how to manage their own finances and plan for their future strengthens their long-term economic security, said Kevin Stump, Vice President of Economic Mobility and Workforce Innovation at Rockland Community College.

It fits with a new trend in education RCC has recently started offering students: microcredential programs.

Designed for people who want a promotion or a better job, but don't have the time or the budget for a college degree, microcredentials are flexible. Earn one by taking maybe three courses on a subject, or courses plus test-prep help for a required certification, or both plus an applied-learning experience.

And they're stackable, which takes the pressure off if you're working and taking care of a family. Take a couple of courses, pass the required certification exam to get that promotion at work, and have those credits in the bag when you have time and money for more.

SEE ALSO: RCC Clicks With New College Trend: Microcredentials

PHOTO: (left to right):

1. Dr. Jean Leandre, Dean of Career and Professional Development, Rockland Community College
2. Dr. Virginia Melendez, Executive Director of Strategic Initiatives, Rockland Community College
3. Suzanne Matthews, Lead Coach MSFCP, Westchester Community College
4. Brian Huff, Executive Director - Market Executive, JP Morgan Chase
5. Jeanique Druses, Executive Director Global Philanthropy, JPMorgan Chase
6. Edwin Rivadeneyra, Financial Literacy Coordinator, Rockland Community College
7. Javon Joslyn, Assistant Director of Workforce Development, Rockland Community College
8. Dr. Darlene G. Miller, Executive Director, National Council for Workforce Education
9. Dr. Christal M. Albrecht, Project Director MSFCP
10. Kevin Stump, Vice President of Economic Mobility & Workforce Innovation, Rockland Community College